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INTRODUCTION. Classifying Countries. By per capita GNI (Gross National Income) World Development Report by World Bank ( http://www.worldbank.org/ ) By economic freedom Economic Freedom Survey by Heritage Foundation ( www.heritage.org ) By political freedom

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INTRODUCTION

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Introduction

INTRODUCTION


Classifying countries

Classifying Countries

  • By per capita GNI (Gross National Income)

    • World Development Report by World Bank (http://www.worldbank.org/)

  • By economic freedom

    • Economic Freedom Survey by Heritage Foundation (www.heritage.org)

  • By political freedom

    • Freedom in the World by Freedom house (http://www.freedomhouse.org/)


Per capita gni

Per Capita GNI

  • Economies are divided according to 2000 GNI per capita, calculated using the World Bank Atlas method.

  • low income, $755 or less

  • lower middle income, $756- $2,995

  • upper middle income, $2,996- $9,265

  • high income, $9,266 or more


Political freedom

Political Freedom

  • Countries are classified into free, partly free, and not free. (www.freedomhouse.org)

  • Two factors in evaluating political freedom:

    • Political rights

    • civil liberties

  • Indicators for political rights

    • Fair and competitive elections

    • Power for elected representatives

    • Ability to organize political parties

    • Safeguards on rights of minorities


Political freedom continued

Political FreedomContinued

  • Indicators for civil liberties

    • Freedom of the press

    • Equal right under the law

    • Personal social freedom

    • Government corruption and indifference

  • 192 countries are rated according to political rights and civil liberties.

  • The U.S. and many European countries are classified as “free”

  • The worst rated countries include Cuba, Iraq, Libya, and North Korea.


Economic freedom

Economic Freedom

  • Two factors in evaluating economic freedom

    • Freedom from government restraints on economic activities

    • Legal and institutional frameworks to safeguard economic freedom

  • 155 countries are ranked according to economic freedom in 10 categories. (www.heritage.org)

  • Categories:

    • banking, capital flows, monetary policy, taxation, trade policy, wages and prices, government intervention, property rights, regulation,and black market activities


Economic freedom continued

Economic FreedomContinued

  • Economic freedom and economic well-being (measured by per capita GDP) are highly correlated.

  • Hong Kong and Singapore rank first and second respectively.

  • The worst ranked countries are Iraq, Libya, and North Korea (#155).


Competitiveness

Competitiveness

  • Competitiveness of a country is evaluated according to its economic performance, government efficiency, business efficiency and infrastructure. (www.imd.ch)

  • 49 countries are rated and ranked.

  • The U.S. ranks first and Singapore ranks second.


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